Companies Act 2014 section 1560

Grounds for refusing request for information

Section 1560 sets out the circumstances in which the Supervisory Authority or a recognised accountancy body may refuse to comply with a request for information from another EU Member State, and the notification obligations that follow such a refusal.

• A request for information from another Member State may be refused where it would prejudice the sovereignty, security or public policy of the State, where court proceedings are already underway here on the same matter, or where a final determination has already been made on the same matter
• A recognised accountancy body may only exercise its right to refuse a request after first consulting with the Supervisory Authority
• Where a request is refused, the refusing body must notify the counterpart authority in the other Member State of the reasons for the refusal
• Where a recognised accountancy body refuses a request, it must also separately notify the Supervisory Authority of its reasons for the refusal